HSM 340 Health Services Finance

(Course Offered by DeVry)

HSM 340 Week 1 Assignment; Financial Laws and Regulation
HSM 340 Week 1 DQ 1 Finance and the Regulatory Components
HSM 340 Week 1 DQ 2 Reimbursement and Payment Determination
HSM 340 Week 2 DQ 1 Accounting Conventions and Methods
HSM 340 Week 2 DQ 2 Financial Performance
HSM 340 Week 2 Quiz
HSM 340 Week 3 DQ 1 Cost Categories
HSM 340 Week 3 DQ 2 Cost Information
HSM 340 Week 3 Quiz
HSM 340 Week 4 DQ 1 Financial Sources
HSM 340 Week 4 DQ 2 Financial Theories and Concepts
HSM 340 Week 4 Midterm Exam
HSM 340 Week 5 Assignment; Capital Budgeting Process
HSM 340 Week 5 DQ 1 Capital Investments
HSM 340 Week 5 DQ 2 Future and Present Value
HSM 340 Week 6 Assignment; Cash and Working Capital
HSM 340 Week 6 DQ 1 Cash and Assets
HSM 340 Week 6 DQ 2 Cash Resources
HSM 340 Week 7 DQ 1 HMO, MCO and Health Plans
HSM 340 Week 7 DQ 2 Financial Policy
HSM 340 Week 7 Quiz
HSM 340 Week 8 Final Exam

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HSM 340 Entire Course Guide Week 1 - 8
Price: $ 88
HSM 340 All Assignments Week 1, 5, 6 Tutorial
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HSM 340 Week 1 Assignment; Financial Laws and Regulation
Price: $ 15
HSM 340 Week 5 Assignment; Capital Budgeting Process
Price: $ 15
HSM 340 Week 6 Assignment; Cash and Working Capital
Price: $ 15
HSM 340 All Discussions Questions Week 1 7
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HSM 340 All Quiz Solutions Week 2, 3 and 7

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HSM 340 Week 2 Quiz Solutions
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1. Question: (TCO 2) A statement that reports inflows and outflows of cash during the accounting period
in the categories of operations, investing, and financing, is called a(an):
2. Question: (TCO 2) Which method(s) of financial reporting does (do) not recognize the impact of
changes in purchasing power?
3. Question: (TCO 2) Which of the following is the BEST example of a financial metric?
4. Question: (TCO 2) What is/(are) the primary determinant(s) of firm value?
5. Question: (TCO 2) How are revenues and expenses defined under accrual accounting?
6. Question: (TCO 2) What is an audit (in the context of financial accounting)?
7. Question: (TCO 2) The HC method, which uses unadjusted historical costs, does not take into account
depreciation expenses, purchasing power, and unrealized gains in replacement value. Despite these
weaknesses as a financial reporting method, the HC method is used more frequently for accounting
purposes than other methods, such as the HC-GPL, CV, and CV-GPL methods. Why is this so?
8. Question: (TCO 2) Define and describe the purpose of fund accounting (now called net assets).

HSM 340 Week 3 Quiz Solutions

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1. Question: (TCO 3) From a hospital's perspective, what is most likely to be the highest risk
arrangement with a payer?
2. Question: (TCO 3)SKF Primary Care Clinic is deciding whether to purchase MRI equipment that
would enable it to perform MRI imaging services in-house rather than sending its patients to its
competitor's hospital three miles away. From a financial position, if SKF were to make its decision
without using net present value analysis, the clinic would need to know (or at least reasonably estimate)
which of the following information?
3. Question: (TCO 3) Assume that the clinic used the price that they need to exactly break even at
10,000 shots. Fewer people than expected showed up and purchased the flu shot. The clinic would:
4. Question: (TCO 3) Which of the following is the first step in any budgetary process?
5. Question: (TCO 3) David Jones, the new administrator for a surgical clinic, was trying to determine
how to allocate his indirect expenses. His staff was complaining that the current method of taking a
percentage of revenues was unfair. He decided to try to allocate utilities based on square footage of each
department, administration based on direct costs, and laboratory based on tests. Use the information in the
chart below to answer the question.
6. Question: (TCO 3) Your hospital has been approached by a major HMO to perform all their MS-DRG
470 cases (major joint procedures). They have offered a flat price of $10,000 per case. You have reviewed
your charges for MS-DRG 470 during the last year and found the following profile:
7. Question: (TCO 3) How are costs classified?

HSM 340 Week 7 Quiz Solutions

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1. Question: (TCO 7) A withhold is a feature for payment to health care provider that:
2. Question: (TCO 7) A medical group includes a provision in its contract with an HMO to receive larger
PMPM payments if the HMO members are chronically ill. This type of provision is referred to as a:
3. Question: (TCO 7) Suppose that AT&T had made an offer to acquire Merck Pharmaceuticals. Ignoring
potential antitrust problems, this merger would be classified as a:
4. Question: (TCO 7) An HMO has a Point of Service (POS) option for its members, but will pay only

80 percent of approved charges. If a member goes out of network for a medical procedure with a charge
of $2,000, of which $1,200 is approved, how much must the member pay?
5. Question: (TCO 7) An uninsured patient receives services with charges of $5,000 from a hospital. The
hospital staff bills the patient $1,000 and records $4,000 as charity care. If the hospital's ratio of cost to
charges is 50%, what amount would the hospital recognize as charity care in Schedule H of IRS Form
990?
6. Question: (TCO 7) Why is tax-exempt financing cited as a benefit received by not-for-profit
healthcare providers?

HSM 340 Week 4 Midterm Exam Solutions

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Page 1
1. Question: (TCO 4) Which of the following is part of a statistics budget?
2. Question: (TCO 4) The following is an example of a ___ budget: "The budget for the radiology
department is different at 90 percent occupancy than at 80 percent occupancy."
3. Question: (TCO 4) Effectiveness is a relationship between:
4. Question: (TCO 3) What is the main reason that relative value units (RVUs) often are used in health
care?
5. Question: (TCO 3) Your controller has told you that the marginal profit of DRG 209 (major joint
procedure) for a Medicare patient exceeds the marginal profit for an average charge patient. Why might
this occur?
6. Question: (TCO 2) The heading of every financial statement should contain the:
7. Question: (TCO 2) Which of the following is the BEST example of a financial metric?
Page 2
1. Question: (TCO 4) Formulate your answer based on the below information. Costs per case increased
to $4,900 from a budgeted value of $4,750. This increased actual total costs by what amount?.....You have
been asked by management to explain the variances in costs under your inpatient capitated contract.
2. Question: (TCO 4) Based on the information below, assume that the only change in the original
example data is that Blue Cross raises their discount to 20 percent. What price should be set? You have
been asked to establish a pricing structure for radiology on a per-procedure basis.........
3. Question: (TCO 4) What is the amount of variance that can be attributed to the difference between
budgeted and actual volume? Use the following data to calculate the variances. The following information
has been prepared for a home health agency.
4. Question: (TCO 2) Explain the difference between the accrual basis of accounting and the cash basis
of accounting?
5. Question: (TCO 2) What is an audit (in the context of financial accounting)?
6. Question: (TCO 1) What are social responsibility and ethics as they relate to business-oriented
organizations? How should social responsibility and ethics affect the decisions of even for-profit
companies?
7. Question: (TCO 2) Define and describe the purpose of fund accounting (now called net assets).

HSM 340 Week 8 Final Exam Solutions

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1. Question: (TCO 4) When would it make sense to use a flexible budget as compared to a forecast
budget?
2. Question: (TCO 7) Explain the difference between a horizontal merger and a vertical merger.
3. Question: (TCO 1) Describe the Outpatient Code Editor.
4. Question: (TCO 1) What is the primary provision of the EMTALA.
5. Question: (TCO 3) Use the following data to calculate the variances in problem. data Your hospital
has been approached by a major HMO to perform all their MS-DRG 470 cases (major joint procedures).

They have offered a flat price of $10,000 per case. You have reviewed your charges for MS-DRG 470
during the last year and found the following profile: The HMO in the above example has indicated that
their doctors use less expensive joint implants. If this less expensive implant is used, your medical supply
charges would be reduced by $2,000. What is the estimated reduction in variable cost?
6. Question: (TCO 2) Explain the difference between the accrual basis of accounting and the cash basis
of accounting.?
7. Question: (TCO 2) What are the double-entry accounting system and the duality concept? How are
they related?
8. Question: (TCO 5) Define an annuity.
9. Question : (TCO 5) What avenues are available for for-profit healthcare providers to increase their
equity position?
10. Question: (TCO 6) Describe the two major components of a working capital management strategy?
11. Question: (TCO 6) What is the general rule of thumb about when to borrow long-term or short-term?
12. Question: (TCO 5) How should the interest rate and n periods of compounding be modified if
compounding for less than one year?